Latest market data

Stock search

NEW YORK — Toys ‘R’ Us Inc. shareholders on Thursday approved a $6.6 billion buyout that will end the company’s 27-year run as a public company.

During that period, Toys ‘R’ Us became the nation’s largest toy seller, only to lose market share in recent years to the big discount retailers and cede the top spot to Wal-Mart Stores Inc.

The buyout, approved by nearly 98 percent of the shares that were voted, will see the Wayne N.J.-based company sold to a private consortium at the end of July; stockholders stand to get $26.75 a share.

That price is the same as anticipated with the March 17 buyout announcement.

Shareholders as of May 20 were eligible to vote, and a majority of shares were required for approval.

The Toys ‘R’ Us board recommended approval, noting that the share price was a “substantial premium to historic trading prices.” The offer is 123 percent over the closing price of $12.02 on the New York Stock Exchange on Jan. 7, 2004, the trading day before the company announced it was considering dividing the company.